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One of our company-wide goals is to help small and medium business owners retain their hard-earned capital through Strategic Tax Planning. If you think you may need a strategic tax plan, but you still aren’t sure, take this quick tax quiz below to find out.

Financial Gravity Tax Quiz


1/ Are you an SME or SMB owner?

If yes, proceed to question 2.

If you’re not sure, here’s a definition of a Small or Medium Sized Enterprise (SME) or Business (SMB) according to this article on SMBResearch.com. A small business or enterprise has fewer than 100 employees (startups and self-employed peoples fall into this category) while a medium sized business or enterprise can have between 100 and 10,0000 employees. Anything more than 10,000 and you’re jumping into the large enterprise category, aka The Big Dogs.

If not, don’t fret. You can still follow our blog, Twitter, and podcast for tax saving strategies and entrepreneurial inspiration. When you finally open up shop, let us know, we also help with business strategy!

2/ Do you pay more than $20,000 in taxes per year?

If yes, proceed to question 3.

If not, perhaps you’d benefit from our Business Blueprint. The Business Blueprint™ provides a “jumpstart” for clients struggling to obtain traction with operations to support the owner’s vision. It provides the basic foundations to operate a healthy and happy team and is the beginning of realizing a company’s true potential. 

3/ Do you think you’re paying too much in taxes?

If yes, proceed to question 4, if not sure, proceed to question 4 anyway.

If not, are you sure you filed taxes this year? If you are a small business owner, it’s highly likely you’re paying too much in taxes.

4/ Has your accountant, tax preparer, CPA, or financial advisor provided you with a strategic tax plan that saves you more than $1000 per year?

If yes, then congratulations! Call him or her right this minute and invite them out for a drink. You’ve found yourself a rare gem. Most accountants don’t offer strategic tax planning. Here’s why.

If no, it’s time to ditch the zero and get with the hero.

Financial Gravity exists so that we can help small and medium-sized business owners reduce their tax liability, increase their profit, and attain greater wealth. We do that by providing Strategic Tax Planning which is derived from over 70,000 legal tax laws located in the tax code. Our Tax Blueprint™ (a clear tax reduction plan) will never cost more money than it saves you, backed by our 2x guarantee. Without a Tax Blueprint, you don’t have a Strategic Tax Plan.

Here are your next steps:

1/ Get in touch with us today. After a 15-30 minute no obligation assessment, we will determine if we can lower your tax liability.

2/ Do your happy dance! 

*Photo by rawpixel.com on Unsplash

Financial Gravity isn’t just your average run of the mill financial services company whose sole purpose is to create a transaction or sell you a strategy or product. We exist so that we can help small business owners like you lower their personal income taxes, increase their profits, and attain greater wealth. So, how does Financial Gravity help small business owners recapture the hope of financial freedom AND retain more of their hard-earned capital? Strategic Tax Planning.

Strategic Tax Planning is something you most likely aren’t receiving from your CPA. There are a few reasons why this is true.

1/ Accountants only understand a small portion of the tax code. Instead of being future focused, they are more interested in historical record keeping. While some may provide reactive tax advice, they are unaware of how to proactively and strategically make the tax code work in your favor.

2/ Accountants are likely to have Type-A personalities. While that’s great for plugging numbers into boxes, it means they probably aren’t flexible or open to change. A strategic tax planner must take into account the small business owner’s lifestyle, short and long-term financial goals, and spending habits.

3/ Accountants err on the side of caution. Though there are over 70,000 pages of green lights in the tax code, accountants tend to focus on the five pages of red lights to avoid being flagged by the IRS. It’s important to understand, however, that a green light is not the same as a “loophole.” It’s not a “red flag” to go through the intersection and it does not increase your risk of getting a ticket because you “used” this particular law to get through the intersection. Remember, the tax code was meant to be used, not feared.

What does Strategic Tax Planning at Financial Gravity look like? Designed and implemented by our insanely smart tax and wealth professionals, the following two products seek to give small business owners proactive fiduciary-type advice that serves their best interest:

Tax Blueprint

Without a Tax Blueprint®, you don’t have a Tax Plan. After a free 15-30 minute no obligation assessment, Financial Gravity will determine if we can substantially reduce your tax burden. If so, we take 200+ proactive tax strategies and create a personalized Tax Blueprint® just for you. All of our strategies come directly from the IRS Tax Code and are legal, ethical, and moral. The best part is that we guarantee to deliver a tax savings of at least 2x the cost of the Tax Blueprint®, or it’s free. That means you have nothing to lose except overpaying taxes. Your Tax Blueprint® has the potential to return tens or even hundreds-of-thousands of dollars annually to your bottom line.

Tax Operating System

Designed to fit any budget and circumstance, the Tax Operating System® works in coordination with the Tax Blueprint by providing a suite of solutions to save you money. Regardless of which solution you select, you can count on access to our advisors, annual tax planning assistance, ongoing newsletter, and educational materials. Some of the solutions you can choose from including Advisory, Tax Preparation, and Bookkeeping with Purpose®.

Financial Gravity has a national partner network of financial advisors and accounting professionals that help small business owners, like you, attain business and personal goals, reduce their tax burden, and keep more of their hard-earned capital through Strategic Tax Planning. If you are a small business owner who is tired of paying too much in taxes, get in touch today. 

Photo by Maarten van den Heuvel on Unsplash

Tax-centric Financial Advice

It’s that time of year again, a time to reflect on all the things you are most grateful for. Similar to raising a child, starting and maintaining a successful business can’t be done unless you enlist the help of an entire village. By implementing some of Financial Gravity’s tax-centric financial advice, small and medium-sized business owners (like you) will receive two things you can be grateful for, for years to come,  1/ time to think about big-picture issues, and 2/ money to invest back into your business.

Below are three clients who are thankful for Financial Gravity’s tax-centric financial advice:

1/ Jeanne Johnston and Bobbie Parker, co-owners of Johnston, Parker & Associates (JPA), are thankful for their retirement plans.

Thanks to Financial Gravity, both Jeanne Johnston and Bobbie Parker, co-owners of JPA associates, now have retirement plans that make sense. In addition to retirement plans, JPA also decided to implement Financial Gravity’s Tax Operating System®, bookkeeping, and payroll services. Outsourcing those functions cleared up their schedules, allowing them more time to “develop their people.”

2/ Dr. Ron Perkins, owner of Perkins Orthodontics, is thankful for real investment diversity without commissions.

Though Dr. Perkins first came to us for investments, he quickly jumped at the chance to save money on taxes with our various tax planning services. Unlike other advisors who are product, commission, or transaction driven, all of our financial advice is tax-centric, meaning we let the tax code call the shots. 

3/ Kim Holmes, owner of Holmes Service Company, LLC, is thankful for lower taxes.

Kim Holmes was experiencing excellent success and increased revenue as a small business owner. Unfortunately, that also meant she was experiencing an increased tax liability. By implementing our tax and financial planning services, we prevented Holmes from paying $12,000 too much in taxes.

Receiving good financial advice can be hard to come by when you consider all that is currently wrong with the financial system. Your CPA isn’t trained to help you save money on your taxes, and your financial advisor is more concerned with selling you a product or making a commission than giving you advice that positions your company for success. At Financial Gravity, we are thankful for the Tax Code. It’s over 70,000 pages of “green lights,” or legal, moral, and ethical ways to lower your personal income taxes. If understood and implemented correctly, the Tax Code will save you thousands of dollars in taxes a year.

Having doubts if Financial Gravity can help you? Read these case studies, featuring real customer experiences.

Photo by Chris Lawton on Unsplash

Billionaire Warren Buffet wisely said, “someone’s sitting in the shade today because someone planted a tree a long time ago.” There is no denying that financial planning is an essential part of your business (if you want to position yourself for success), but what do you do when the current financial system is either biased or irrational? Instead of reaching out to a financial advisor (who might as well be called a salesman) or your IRS-averse, Type-A CPA…get in touch with Financial Gravity.  Financial Gravity provides legal, ethical, and moral ways to help you pay less money in taxes (and take home more personal income).

Financial Advisors

Most financial advisors sell products, transactions, or strategies that are driven by commissions. According to an article in The Wall Street Journal, even if an advisor claims he or she is “fee-only,” they can still receive commissions.

What does that mean for you, the small business owner? If your financial advice isn’t tax-centric, then you’re likely receiving biased advice.

CPAs

Most CPAs weren’t trained to give you financial advice. Though the CPA exam is a rigorous 16-hour test that spans 2 days, there isn’t one question related to personal income taxes.

What does that mean for you, the small business owner?

Because your CPA is unaware of how to proactively and strategically use the tax code, he or she may be irrationally afraid of being red-flagged by the IRS, (which means they probably won’t help you use the tax code to lower your income tax.)

Ask any small business owner or entrepreneur what their least favorite thing about running a business is and you’ll likely hear this response, “TAXES.” But like most things in life, we usually hate the things we don’t understand. Financial Gravity knows how to make the tax code work in your favor. We help small business owners, like you, recapture the hope of financial freedom by providing Strategic Tax Planning, something that you probably aren’t getting from your current financial advisor or CPA. 

Read real-life examples of how we helped save small business owners thousands of dollars on their taxes.

Photo by Oliver Thomas Klein on Unsplash

A few weeks ago we asked our Twitter followers who they turned to for financial advice.  Not surprisingly the majority of responders wrote in that they turned to their accountants or CPAs.

Now just because we weren’t shocked to see this result, doesn’t mean we were any less offended. We aren’t sure when this myth started, but Financial Gravity is bound and determined to bust it once and for all. While a good accountant is an essential piece of your enterprise puzzle, your CPA wasn’t trained to give you financial advice. 

Though your Veterinarian may be very knowledgeable on how to treat your dog’s thyroid problem, you wouldn’t make an appointment for your husband’s thyroid problem, would you? (Maybe it’s best if you keep that answer to yourself.)

Now, don’t get me wrong, I’m not saying CPAs aren’t intelligent people. I’m sure they are (well most of them, anyhow). What I’m saying is that, in order to become a certified CPA, you must pass a rigorous test that lasts 14 hours and spans across 2 days. Though it’s a lengthy and mind-numbing test it is solely focused on General Accepted Accounting Principles and has nothing (absolutely NOTHING) to do with taxes or financial planning. Seriously, there isn’t even one question related to personal income taxes on that thing. 

Your accountant is a historian. They record what you’ve done. Sometimes they may even offer you “reactive” tax advice after the fact — but recording data and then transferring that data onto a tax return is not the same thing as Strategic Tax Planning. BOTTOM LINE: Tax preparation, tax filing, and accounting are important skills but they don’t amount to proactive tax planning!!

Financial Gravity does offer proactive, strategic tax planning, however. After a simple 15-30 minute no obligation assessment, we’ll determine if we can substantially reduce your tax burden. If so, we will develop a tax savings plan utilizing our exclusive Tax Blueprint®. The Tax Blueprint® provides a clear tax reduction plan that is customized specifically for you and your business. You can expect that the total reduction of your taxes will be substantially higher than the cost of the service itself. This is backed up by our 2X savings guarantee (that means you’ll never pay more than half of what we save you in tax savings.)

If your accountant, bookkeeper, or tax preparer has not given you at least one idea that saves you at least $1000 in taxes EVERY YEAR, then you may have outgrown your accountant. As in life, graduating from one phase of business to another is an essential path to growing your business and profit. 

It is your legal right, and dare I say moral obligation, to you and your family to pay the least amount of taxes allowed by law so that you can better serve your stakeholders and position your company to grow. 

Photo by Lacie Slezak on Unsplash

Hero X

Financial Gravity wants to digitize the tax code in order to make sure that everyone (not just the uber wealthy) pays the lowest amount of taxes by law. But…we can’t do it alone, that’s why we’ve decided to crowdsource knowledge using Hero X (but more on that later.)

What’s the problem, exactly?

For years, the uber wealthy (those with $20-30 million or more in assets) have had exclusive access to the Family Office.

Hold up, I’m confused. What is a Family Office?

A Family Office integrates the following advice; wealth planning, risk management, insurance planning, tax planning, and legal planning. By integrating all of these “offices,” wealthy people receive financial advice that is streamlined and tailored to their particular financial needs and goals. Since operating a Family Office requires an entire team of connected individuals to maintain an understanding of ever-changing tax codes and financial products, this streamlined advice can be expensive, very expensive.

Isn’t there a software that can do that for me?

Despite the number of tax planning and wealth management services out there — ones that enable people to plan in advance of tax time have not yet been automated…yet. Financial Gravity wants to develop an automated strategic tax planning assistant software so that people like you and me have the same access the uber-wealthy do to financial planning through the Fractional Family Office™.

Why can’t I just ask my Financial Advisor for advice?

Financial Advisors can’t give nonbiased financial advice because they are either product-centric, strategy-centric, or transaction-centric. Bottom line: 99% of Financial Advisors are selling something.

But what about my Accountant?

Accountants don’t give financial advice because they aren’t trained to help entrepreneurs and small business owners lower their personal income taxes and then give them numbers to help them run their business. Bottom line: The CPA exam has nothing to do with tax planning.

And how are you going to fix this problem? 

By digitizing the Tax Code and creating a tax centric advice platform that is moral, legal and ethical. That way entrepreneurs, high net worth individuals, and small business owners pay the least amount of taxes required by law (which will then allow them to pump more of their money back into their business and into the economy.)

Sounds great, but you said you needed my help…? 

We do. We need your help building Odele’s Brain.

Um, what? Who is Odele™?

Odele™ is the name of the tax planning assistant software that will disrupt the financial services industry as we know it. Not only will Odele™ centralize all financial planning around tax savings and planning, she will make proactive tax planning, wealth-building, risk management, business strategy, and financial planning strategies both accessible and affordable to business owners at ALL wealth levels. Think of Odele™ as anyone’s access to a Fractional Family Office™… and in AI form.

Still a bit confused as to where I fit into all of this…

My bad. I was so excited that I must have gotten ahead of myself. Here’s the gist: Financial Gravity is already working on a Fractional Family Office™ for small and medium sized business owners by partnering with the different “offices” I mentioned before. However, there are still a lot of people who don’t have access to our services due to financial constraints (such as a mompreneur who sells monogrammed cloth diapers on Etsy as a side-hustle.) That’s why we want to build Odele — to allow tax payers from ALL income levels to benefit from the legal tax saving strategies provided in the tax code. This technology has the opportunity to save a LOT of people a LOT of money (once it’s built, of course.)

How can I help? 

In order to help us build Odele™, we are crowdsourcing knowledge via Hero X (think of Hero X like Kickstarter…but instead of raising money, we are searching for an individual or team of individuals to help us map out Odele’s brain.) Brands such as Netflix and Coca Cola have already used Hero X to successfully recruit innovators to help them make breakthroughs in technology, health, education, and communities. In some cases, the chosen innovators have even won prize money.

Wait, there’s prize money involved? 

Haha, yes. Glad I got your attention. Financial Gravity will award a total prize pool of up to $125,000. This prize may be split by up to 5 winners. The minimum prize is expected to be $20,000.

How are the winners chosen?

    To be eligible for an award, your proposal must, at a minimum:

  • 1. Satisfy the Judging Scorecard requirements.
  • 2. Thoughtfully address the Submission Form questions.
  • 3. Be scored higher than your competitors!

 

Sounds exciting, where can I find out more information?

In the upcoming blog posts, we will address more specifically what we are looking for. If you can’t wait that long, however, you can head over to our Hero X page to learn more about Odele’s Brain and the Automated Tax Blueprint Challenge.

Top 10 Tax Myths Busted

For the last 10 weeks, we’ve been busting tax myths left and right on our Financial Gravity blog. Below is a summary of all the myths we’ve busted in that time.

1. Having an accountant is the same thing as having a tax planner. MYTH

Everyone knows that if you are an entrepreneur or small business owner, having a good Accountant is essential to the function and success of your business, but it’s not everything. If you want to lower your personal taxes, increase your profits, and attain greater wealth, you’ll need the help of a Tax Planner. Read more here. 

2. Taking a proactive approach to tax planning will put your business at risk for an audit. MYTH

Implementing strategies that help you reduce your taxes will not raise your risk of audit. In fact, it’s why the Internal Revenue Code exists (all 70,000+ pages of it). Inside the IRC, there are plenty of legal ways that Small Business Owners like you, can learn to lower their tax liability and keep capital in your business. Read more here. 

3. Becoming an LLC prevents me from having to pay Self-Employment taxes. MYTH

Becoming an LLC will not magically prevent you from paying Self-Employment taxes. Why? Because an LLC is not a tax filing status. To determine which tax filing status is right for your business, get in touch with a Tax Professional. Read more here.

4. Having an IRA or 401k is a Sufficient Retirement Plan. MYTH

If you are a small business owner, and you have an IRA (Individual Retirement Account) or a 401k, you don’t actually have a sufficient retirement plan. Not only do conventional retirement accounts (401k, 403b, 457, SEP, SIMPLE, IRA) contain massive hidden fees but they only work if Taxes don’t go up and Your income decreases upon retirement. Read more here. 

5. Kids are an expense. Case Closed. MYTH

As long as you have a written contract, you are paying your “employee” through the payroll (so the IRS gets their fair share), and the money is being deposited into your “employee’s” account, it’s totally legal, moral, and ethical. Read more here. 

6.  The Affordable Care Act took away my ability to write off medical expenses. MYTH

There are still PLENTY of ways for you to write off glasses, braces, massages, acupuncture, and other medical related expenses. Here are just a few; Flex Plans, Health Savings Accounts (HSAs, or a Medical Expense Reimbursement Plan (MERP). Read more here.

7. A home office deduction will put me at an immediate risk for an audit. MYTH

Not only is a home office deduction LEGAL, MORAL, and ETHICAL, but there are four different ways (YES, FOUR!) to do it. If writing off your home office was risky, why on earth would the IRS give you four ways to do it? Read more here. 

8. If there is food involved, then it’s a meals and entertainment expense. MYTH

If the food is part of a marketing expense, bought while traveling for work, or purchased for staff as a “working lunch”, you may be able to deduct 100% of the cost. Read more here.

9. Mileage is the only tax write-off I can use for my car. MYTH

In addition to writing off your mileage, the Internal Revenue Code allows you to write off your leased car (but not a loan.) Read more here. 

10. If lowering my tax liability was that easy, I would already know about it. MYTH

Most accountants, attorneys, or business consultants aren’t taught to master the myths standing between you and your money. In fact, the financial industry benefits from small business owners not understanding tax myths. At Financial Gravity, however, we have expert tax planners and tax specialists who not only understand the tax code and the available “green lights” you can use to reduce your taxes but who will help you engage in proactive tax savings and tax planning. Read more here. 


If you’d like to read about the myths in further detail, you can download your own copy of the Tax Myth eBook here. After reading the eBook, you’ll have a better understanding of what you need to do to lower your tax liability, increase your profit, and enhance your quality of life.

*image by Edu Lauton

Tax Savings

As a small business owner, finding legal and ethical ways to increase your tax savings shouldn’t be a full-time job in itself. Unfortunately, most accountants, attorneys, or business consultants aren’t taught to master the myths standing between you and your money. In fact, the financial industry benefits from small business owners not understanding tax myths.

Wait, my accountant can’t help me with tax planning and tax savings?

The CPA exam is focused on General Accepted Accounting Principles and has nothing (absolutely NOTHING) to do with taxes. Your accountant may be a lovely human being, but they aren’t the ones you should be consulting about tax savings.

So if I can’t turn to my CPA to help me find ways to pay less tax, who can I turn to?

Well, you have a couple of options. You could read all 70,000+ pages of the Tax Code. (Though this option will likely be zero fun for 99% of the people on the planet.)

Who is this option for?

People who have too much time on their hands and a passion for onerous, complicated, and bloated text.

No, thanks. I’ll pass. Any other options?

You could download the Tax Myth eBook, a book that our CEO, John Pollock, put together outlining 10 of the most damaging misconceptions about taxes — and then read it. This free eBook will help you prevent further loss (in taxes) or prevent you from losing money in the first place.

Who is this option for?

Do-It-Yourself-ers who want to lower their tax liability…quickly, legally and ethically, and who make under $100,000 gross income. 

What if I make more than that, what should I do?

Get in touch with us. At Financial Gravity, we have expert tax planners and tax specialists who not only understand the tax code and the available “green lights” you can use to reduce your taxes but who will help you engage in proactive tax savings and tax planning.

Who is this option for?

Business owners who have a shortage of time, zero desire to learn about the Tax Code and either pay $20,000+ in personal income taxes or make $100,000+ gross income.


If you’re a small business owner, taxes are your single biggest expense and they will get bigger if you don’t have a sound strategy in place to mitigate them. 

*Photo by Ante Samarzija on Unsplash

Think of your accountant as a “food diary” app. It records what you eat and calculates the amount of calories, protein, fat, and carbohydrates you are consuming. But what good is it to have all this data, if it doesn’t help you lose weight or gain muscle mass? In addition to keeping a “food diary”, you’ll also need the help of a “nutritionist” to analyze the data and create a food and fitness plan that will help you attain your weight loss goals. Much like a nutritionist, Tax Planners provide a strategic plan to help you achieve your goals. Instead of obtaining muscle mass, however, your tax planner will help you achieve greater wealth. Sounds good, right?

Because the difference between an Accountant (CPA) and a Tax Planner may not be obvious, we’ve created this list below to help make it more clear:

Accountant  (Your “food diary”)

  1. 1. Passed a rigorous CPA exam that is entirely focused on General Accepted Accounting Principles (and has absolutely nothing to do with taxes.)
  2. 2. Records data and then transfers this data to a tax return (on your behalf.)
  3. 3. May offer “reactive” tax planning advice after filing your previous year’s taxes.

Tax Planner (Your “nutritionist”)

  1. 1. Uses principles found in the Internal Revenue Code (all 70,000 pages of it.)
  2. 2. Provides strategic tax planning services that help entrepreneurs and SMB owners increase their profit and attain greater wealth.
  3. 3. Offers you “proactive” tax planning advice that will help you pay the least amount of taxes allowed by law.

Everyone knows that if you are an entrepreneur or small business owner, having a good Accountant is essential to the function and success of your business, but it’s not everything. If you want to lower your personal taxes, increase your profits, and attain greater wealth, you’ll need the help of a Tax Planner. Unlike other tax-related services and solutions, at Financial Gravity we’re committed to working with you personally to proactively develop a plan to minimize your tax burden and maximize your success.

Download our free eBook “Bust the 10 Tax Myths Sabotaging Your Small Business Growth” today and learn how to reduce your tax burden.